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whoever wins the election on tuesday, on wednesday either barack obama or mitt romney will have to start worrying about the same urgent challenge, how to stop the united states from falling over the fiscal cliff. this is, of course, the second cliff hanger that the united states has faced in two years, the first being the debt ceiling debacle. how did the world's greatest democracy start functioning so badly? maybe the next president can try to fix this broader problem. but first the fiscal cliff. unless congress act, the spending cuts and tack increases that would be triggered automatically next january would take 5.1% out of the country's gdp in one year according to the congressional bucket office. that would be one of the most severe experiments with austerity in history, larger than anything greece, spain, italy, or the united kingdom has tried. in fact, it's almost three times the size of britain's austerity program. and the results of those european programs have thus far been a dramatic slowdown in economic growth and a sharp spike in unemployment. once again, the rhett of the wo
whoever wins the election on tuesday, on wednesday either barack obama or mitt romney will have to start worrying about the same urgent challenge, how to stop the united states from falling over the fiscal cliff. this is, of course, the second cliff hanger that the united states has faced in two years, the first being the debt ceiling debacle. how did the world's greatest democracy start functioning so badly? maybe the next president can try to fix this broader problem. but first the fiscal...
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Oct 27, 2012
10/12
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if obama is elected it's uncertain whether bernanke would want to stay for a third term. what can't be denied is what ben bernanke and the fed has had on the economy and the markets over the last four years. some critics say ben bernanke should have seen the financial crisis before it hit us. that's a conversation for another time. no matter what you do for a living ben bernanke's policies have affected you and your money. bernanke's fed has pumped more than 2s trillion worth of stimulus through the economy through various programs through the recession. unemployment has been trending lower since the stimulus programs started in 2008 and bernanke's fed has been focused on bringing it down. inflation, another one of the fed's chief concerns has been relatively tame if you take out food and energy prices over the last four years, although hard to take out food and energy prices. there are concerns about inflation going down the road, though, given the low lending rates that the fed has fostered. that may be bernanke's successor's problem. let's look at stocks. the s&p 500,
if obama is elected it's uncertain whether bernanke would want to stay for a third term. what can't be denied is what ben bernanke and the fed has had on the economy and the markets over the last four years. some critics say ben bernanke should have seen the financial crisis before it hit us. that's a conversation for another time. no matter what you do for a living ben bernanke's policies have affected you and your money. bernanke's fed has pumped more than 2s trillion worth of stimulus...
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Oct 28, 2012
10/12
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CNN
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now if obama gets re-elected, that has passed. and john boehner will have to think about his feature as speaker. if he wants to stand with the tea party or stand with the vast moderate majority of people in this country who believe that there have to be some revenues, and there have to be some cuts, and there have to be entitlement reforms. there's a rational, sane middle road out there. if romney wins, then he will have to deal with the democrats in the senate which he will want to do, and he will have to say to his right wing as he has implicitly over the last three or four weeks that no, guys, we're not going to have this extreme policy. and as for tax rates mattered, i mean, i think we all live through the great depression of the 1990s after bill clinton raised taxes. and the great depression of the 1980s after ronald reagan raised taxes, especially on business, three times. >> we're going to have to see stop -- no, we're going to have stop, take a break. >>> when we come back, we'll talk inevitably about all this, but also go
now if obama gets re-elected, that has passed. and john boehner will have to think about his feature as speaker. if he wants to stand with the tea party or stand with the vast moderate majority of people in this country who believe that there have to be some revenues, and there have to be some cuts, and there have to be entitlement reforms. there's a rational, sane middle road out there. if romney wins, then he will have to deal with the democrats in the senate which he will want to do, and he...
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we're hours from the election. these men are delivering closing arguments, making their final case for your vote. it's an election about the economy, so let's look at the evidence. jobs. president obama's argument, he's gained back every job lost under his watch. that's quite a feat, but romney says not good enough. >> we're going to create 12 million new jobs and more take-home pay. >> reporter: >> how is that possible, major economic growth. the economy grew at a 2% annual rate during the third quarter, better but not nearly enough to significantly boost hiring. romney will be much more than that to keep his jobs promise. how about housing. prices in some areas are rising, foreclosures slowing, but this is america and what will really get the economy going again is you. consumer spending rising, consumer confidence the best in four years. there's no doubt president obama inherited an economy in crisis, and his supporters will tell you he's turned things around. >> we have made real progress. >> his final argument
we're hours from the election. these men are delivering closing arguments, making their final case for your vote. it's an election about the economy, so let's look at the evidence. jobs. president obama's argument, he's gained back every job lost under his watch. that's quite a feat, but romney says not good enough. >> we're going to create 12 million new jobs and more take-home pay. >> reporter: >> how is that possible, major economic growth. the economy grew at a 2% annual...
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Oct 27, 2012
10/12
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president obama and governor romney spending millions to get their vote. especially in battleground states. check out this cnn electoral map. the states in yellow are up for grabs. blue are safe for obama. light blue, leaning obama. red, those are safe for romney. light red leaning romney. but what will it take to win over the undecided voters, what do they want to know. "saturday night live" had this take. >> before you get our vote, you're going to have to answer some questions. questions like -- >> when is the election? >> what are the names of the two people running? and be specific. >> who's the president right now? is he or she running? >> in real life, undecided voters sound like this. >> i want there to be continued job growth. >> don't say republican, don't say democrat, just get it done. >> i have not heard anything other than this tough guy rhetoric, and numbers that don't add up. >> it's critical right now, to make the best decision. >> a lot of people need relief, and i'm not too sure the election is going to give it, no matter who gets electe
president obama and governor romney spending millions to get their vote. especially in battleground states. check out this cnn electoral map. the states in yellow are up for grabs. blue are safe for obama. light blue, leaning obama. red, those are safe for romney. light red leaning romney. but what will it take to win over the undecided voters, what do they want to know. "saturday night live" had this take. >> before you get our vote, you're going to have to answer some...
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Oct 27, 2012
10/12
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if obama gets elected, u.s. is the next greece. it's just hyperbole the differences between the u.s. and greece are so enormous that it doesn't really bear really fair comparison. not only because the u.s. has got the dollar, which is the world's largest reserve currency and largest market and growing at 2% and employment at 7.8%. all these issues. what the governor is talking about, of course, is debt and deficits. and the very high level of u.s. debt, which at some point is going to have to be addressed. whoever gets elected to the white house, whichever party takes the house and the senate, they are going to have to deal with the debt crisis. >> now, also got a chance to ask richard about his stateside train trip through the u.s. talked to voters from chicago through iowa and utah and california. >> this was brilliant. i tell you why i really liked it because i got to see, i got to see americans, whether it was in the civil war reenactment in iowa or at byu in utah or in colorado and i got to hear what their concerns truly are i
if obama gets elected, u.s. is the next greece. it's just hyperbole the differences between the u.s. and greece are so enormous that it doesn't really bear really fair comparison. not only because the u.s. has got the dollar, which is the world's largest reserve currency and largest market and growing at 2% and employment at 7.8%. all these issues. what the governor is talking about, of course, is debt and deficits. and the very high level of u.s. debt, which at some point is going to have to...
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obama. seriously, will? >> look, i don't know. can he win the election for president obama? the answer is no. that's not going to have that big of an impact on the election. many piem look at chris christie. maybe i'm not looking with the appropriate amount of cynicism. politics deserve cynicism. chris christie has earned the last several years the right to be granted honesty and authenticity. and i think he's a governor, dealing with a tragedy that you really can't overstate if you look at pictures, you live up in this area, you know how awful it is. he's dealing with that as his first priority and the president has his back and is giving him credit for that. >> okay. and roland, there are some political conservatives out there who say chris christie is either totally sincere or -- >> he's acting like a governor. where he showed chris christie 12 days ago, going off on the president, saying he had no leadership. guess what, that was politics. the last four days, from the time hurricane sandy what happens when you do show leadership. i think he is doing exactly what a govern
obama. seriously, will? >> look, i don't know. can he win the election for president obama? the answer is no. that's not going to have that big of an impact on the election. many piem look at chris christie. maybe i'm not looking with the appropriate amount of cynicism. politics deserve cynicism. chris christie has earned the last several years the right to be granted honesty and authenticity. and i think he's a governor, dealing with a tragedy that you really can't overstate if you look...
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president obama has had a decided edge among moderates. fascinating new division in the electorate that we're seeing playing out. >> stay here. we'll talk more about this. brianna keeler is in milwaukee. the president will be there later today. three days out. this is the final chance for the president to make his case to voters. what's the final message going to be? >> reporter: he's countering, ali, mitt romney's message where he is talking about being the candidate of real change. we've been hearing president obama say that's not true. president obama saying that he is the candidate of change, admitting that the change has been slow going as far as improvement to the economy. but still urging voters to have patience with him. remember, yesterday with those jobs numbers out, he pointed to private sector gains, trying to show that things are heading in the right direction. the other thing, he's trying to say to voters you know me. you may not agree with me all of the time. but you know i am a man of my word. and that you know what you're
president obama has had a decided edge among moderates. fascinating new division in the electorate that we're seeing playing out. >> stay here. we'll talk more about this. brianna keeler is in milwaukee. the president will be there later today. three days out. this is the final chance for the president to make his case to voters. what's the final message going to be? >> reporter: he's countering, ali, mitt romney's message where he is talking about being the candidate of real...
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obama has accomplished. you know, if the participation rate was the same today as it was when the recovery began -- not too long ago, mr. goolsbee, the unemployment rate would be 9.6%. in fact, baby boomer's participation is actually increasing. because in this poor economy, their retirement accounts are worth so little and they're not getting any interest on their cds that they're going back to work. the labor force -- >> hold on a second. but, peter, peter, peter, peter, peter, we're four days from election. just tell me, we -- if you want to relitigate the recession, we can do that. we'll need another hour to do that. let's talk about job creation. both presidential candidates have made a promise they will create 12 million jobs in four years. once was in world war ii, the last two times were under reagan and clinton where economic growth was in excess of 4%. your an economist. are you thinking we're going to get 4% growth in the next couple of years? >> yeah, i do. if mr. romney is elected, we will get 4
obama has accomplished. you know, if the participation rate was the same today as it was when the recovery began -- not too long ago, mr. goolsbee, the unemployment rate would be 9.6%. in fact, baby boomer's participation is actually increasing. because in this poor economy, their retirement accounts are worth so little and they're not getting any interest on their cds that they're going back to work. the labor force -- >> hold on a second. but, peter, peter, peter, peter, peter, we're...
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we were on a conference call elected officials with president obama and governor cuomo last night going over a lot of the issues especially the housing issues that people will face. we've been in constant contact with the mayor's office. bottom line here is everybody's moving to get things done. but the challenges are so enormous, it's unlike anything i've ever seen as manhattan borough president as a public official for 20 years. >> we're showing our viewers unbelievably long lines, people waiting two or three or four hours just to get on a bus. how much longer can a situation like that continue? >> well, that's by the way another issue that i think is getting worse by the day. cabs are running out of gas. and that's a transportation opportunity for people. i haven't seen lines like this since the 1970s energy crisis. you know, jimmy carter in 1980 where you just had lines down the block of cars. we're back to that. again, that's also going to slow us in terms of getting people out of this situation. >> you know, there's a lot of uproar over whether or not the marathon this weekend in
we were on a conference call elected officials with president obama and governor cuomo last night going over a lot of the issues especially the housing issues that people will face. we've been in constant contact with the mayor's office. bottom line here is everybody's moving to get things done. but the challenges are so enormous, it's unlike anything i've ever seen as manhattan borough president as a public official for 20 years. >> we're showing our viewers unbelievably long lines,...
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Oct 31, 2012
10/12
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CNN
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president obama resumes campaigning tomorrow, just five days before the election with appearances in green bay, wisconsin, boulder, colorado, and las vegas. unchartered waters of the two campaigns, no doubt about it. the same for election officials in some of the areas that are hit by sandy. joe johns is with us now from washington. do we have, joe, any idea, six days out, of the potential disruptions we could see on election day? >> reporter: we're at least beginning to get an outline of it, but we just won't be sure until we get to election day. we have been paying a lot of attention to the battleground states, virginia, pennsylvania, and north carolina, all in the past, if you will, of the storm. the issues are about whether early voting is affected and then what is going to happen on election day. okay, starting with pennsylvania, there is no early in person voting in pennsylvania, but the question is whether in person voting on election day might be affected in and around philadelphia. now, this was a state that was just slightly beginning to tick over to the obama side and the
president obama resumes campaigning tomorrow, just five days before the election with appearances in green bay, wisconsin, boulder, colorado, and las vegas. unchartered waters of the two campaigns, no doubt about it. the same for election officials in some of the areas that are hit by sandy. joe johns is with us now from washington. do we have, joe, any idea, six days out, of the potential disruptions we could see on election day? >> reporter: we're at least beginning to get an outline of...